Cheap Apartments for Rent in the Thirty-Eighth & Shadeland Neighborhood of Indianapolis, IN from $400 (19 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Thirty-Eighth & Shadeland area of Indianapolis.

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Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Emerson Place
1 to 3 Bedroom Apartments

Emerson Place

2110 Emerson Knoll PlIndianapolis, IN 46218
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3825 N Whittier Pl
1 Bedroom Apartments

3825 N Whittier Pl

3825 N Whittier PlIndianapolis, IN 46226

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Peppermill Farms
1 to 2 Bedroom Apartments

Peppermill Farms

6830 Mill View DrIndianapolis, IN 46226
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East Ridge
1 to 3 Bedroom Apartments

East Ridge

2302 N Ritter AveIndianapolis, IN 46218
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Maison Gardens
1 to 3 Bedroom Apartments

Maison Gardens

8808 Rue Madeleine RueIndianapolis, IN 46226

Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods

Discover the heart of the Midwest! Learn about popular Indianapolis neighborhoods to rent like Speedway and Eagledale, plus top universities and can't-miss places to eat.

Thirty-Eighth & Shadeland, Indianapolis, IN Local Guide

Cheapest Available Thirty-Eighth & Shadeland Apartments for Rent

 

The cheapest available apartment rental in the Thirty-Eighth & Shadeland area of Indianapolis, IN is a Studio unit found at Franklin Studios priced from $725. Autumn Trails Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $749. Here are the most affordable Thirty-Eighth & Shadeland apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Franklin StudiosStudioStudio,1BA$725
Autumn Trails ApartmentsThe MapleStudio,1BA$749
OlivewoodStudioStudio,1BA$780
Greenway ApartmentsGreenway 1 bedroom1BR,1BA$795
Frederick SquareFrederick Square 1 bedroom1BR,1BA$795

Best Value Apartments for Rent in Thirty-Eighth & Shadeland, IN

As of February 04, 2026 the best value apartment in the Thirty-Eighth & Shadeland area is the $1.07 price per square foot 2 BR / 1.5 BA Model at Shadeland Terrace Townhomes w/Full Basements in the in the Southeast Indianapolis neighborhood starting from $1,395. The second greatest value Thirty-Eighth & Shadeland apartment is the The Estate - Two Bedroom 1.5 Bath Model at Paragon Park starting at $1,219 with a $1.00 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for Thirty-Eighth & Shadeland apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Shadeland Terrace Townhomes w/Full Basements2 BR / 1.5 BA2BR,1.5BA$1.07
Paragon ParkThe Estate - Two Bedroom 1.5 Bath2BR,1.5BA$1.00
Brookhaven Apartments2 Bed 1 Bath2BR,1BA$0.91
60 - ADDISON APARTMENTS2nd Floor Standard + W/D Hookups2BR,1BA$0.95
Apartments @ Marten Court2x1 with washer/dryer2BR,1BA$1.23
Park Forest Apartments2BR/1BA2BR,1BA$1.27
Lawrence LandingOne Bedroom1BR,1BA$1.12
Frederick SquareFrederick Square 1 bedroom1BR,1BA$1.14
Indy Town ApartmentsGreenway 1 bedroom1BR,1BA$1.20
Greenway ApartmentsGreenway 1 bedroom1BR,1BA$1.20

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Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

Learn About the Best Neighborhoods to Rent Near College Campuses in Indianapolis, IN | Find Charlotte Indianapolis Student Housing at ApartmentHomeLiving.com

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Pet Friendly Lifestyle
Thirty-Eighth & Shadeland, Indianapolis, IN

Ranked #181

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Frequently Asked Questions about Cheap Thirty-Eighth & Shadeland Apartments

What is a cheap apartment in Thirty-Eighth & Shadeland?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Thirty-Eighth & Shadeland is under $925.

What is the price of a cheap apartment in Thirty-Eighth & Shadeland?

The cheapest apartment in Thirty-Eighth & Shadeland is Frederick Square which is listed at $795, while the average apartment in Thirty-Eighth & Shadeland costs $1,636.

What types of apartments are the cheapest in Thirty-Eighth & Shadeland?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 10 regular apartments in Thirty-Eighth & Shadeland that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Thirty-Eighth & Shadeland?

Cheap apartments in Thirty-Eighth & Shadeland have an average cost of $470 which is $1,166 cheaper than the average rent for all rentals in Thirty-Eighth & Shadeland.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Helpful Local Expert Guides

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A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis

Written by: Wendy Melton

Indianapolis is not only the state capital of Indiana, it’s also a shining example of what Midwestern living is all about. I’m Wendy, your ApartmentHomeLiving.

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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

Written by: Wendy Melton

Indianapolis is well-known for being one of the top college cities in the country. Local colleges and universities are ranked in the Top 10 when it comes to sports and academic excellence.

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Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods

Written by: Wendy Melton

My name is Wendy, and I've lived in Indiana for most of my life. Indianapolis is our state capital, and many people consider it the heart of the Midwest. People come from all around to explore everything Indianapolis has to offer.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

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Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.